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Escrow?....is it better to have the taxes and insurance in the mortgage payment
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skew
LIF Adult
Member since 5/05 6794 total posts
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Re: Escrow?....is it better to have the taxes and insurance in the mortgage payment
Posted by ave1024
I do not escrow anything anymore. The bank tried to require this but I basically told them i'd pull the application. They got a supervisor to remove the escrows since I was putting 20% down.
I don't escrow for a number of reasons:
I like to be in control to know the bills get paid
I get a discount for paying the taxes early from the town - bank will pay on last day without penalty
I get a much better rate of return on my money than the petty bank escrow interest gives
Banks always have overages/underages and change the payment once a year anyways. Why bother with this?
ITA on all statements
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Posted 12/27/12 8:04 PM  |
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butterfly20
Party of 5 - 2015
Member since 4/06 7390 total posts
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Escrow?....is it better to have the taxes and insurance in the mortgage payment
when we refinanced they dropped the escrow so I just left it that way.
Its easier having less bills to remember with escrow but now I can charge my homeowners bill.
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| Posted 12/27/12 10:19 PM |
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